Loading FreeSEOTools
Preparing your tools...
Free mortgage calculator to estimate monthly payments, total interest, and loan costs. Calculate mortgage payments with taxes, insurance, PMI, and HOA fees. Get detailed amortization breakdown.
Our comprehensive mortgage calculator helps you estimate your monthly mortgage payments including principal, interest, taxes, insurance, PMI, and HOA fees. Get accurate calculations to plan your home purchase and understand the true cost of homeownership.
Our mortgage calculator is designed to give you a complete picture of your monthly housing costs. Here's how to get the most accurate results:
Your total monthly mortgage payment typically includes four main components, known as PITI:
The portion of your payment that goes toward paying down the loan balance. This amount increases over time as you pay less interest.
The cost of borrowing money, calculated as a percentage of your remaining loan balance. This amount decreases over time.
Property taxes collected by your lender and held in escrow, then paid to local tax authorities on your behalf.
Homeowner's insurance premiums collected monthly and paid annually to protect your property against damage.
Higher loan amounts result in higher monthly payments. A larger down payment reduces the loan amount and monthly payment.
Even small differences in interest rates can significantly impact your monthly payment and total interest paid over the loan term.
Longer terms mean lower monthly payments but more total interest. Shorter terms have higher payments but less total interest.
Interest rate remains the same throughout the loan term. Provides predictable monthly payments and protection against rising interest rates.
Interest rate can change periodically based on market conditions. Often starts with lower rates but payments can increase over time.
Government-backed loans with lower down payment requirements (as low as 3.5%) and more flexible credit requirements.
Available to eligible veterans and service members. Often require no down payment and have competitive interest rates.
Your monthly payment typically includes principal, interest, property taxes, homeowner's insurance, and possibly PMI and HOA fees. This is often called your "total housing payment."
A general rule is that your total monthly housing costs shouldn't exceed 28% of your gross monthly income. However, consider your other debts and financial goals when determining affordability.
15-year mortgages have higher monthly payments but lower total interest costs. 30-year mortgages have lower monthly payments but higher total interest. Choose based on your budget and financial goals.
You can typically request PMI removal when you reach 20% equity in your home. For conventional loans, PMI is automatically removed at 22% equity based on the original amortization schedule.